North Chatham, Massachusetts Property Taxes
The median property tax rate in North Chatham, MA is 0.36%, considerably lower than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in North Chatham at $1,306,300, the typical annual property tax bill reaches $4,663, significantly exceeding the national median of $2,690. Property taxes in North Chatham are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding North Chatham's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of North Chatham or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
North Chatham, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.36%
Estimate Property Tax Bill
$4,703
Ownwell’s North Chatham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Chatham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Chatham to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across North Chatham, Massachusetts
Property taxes in North Chatham, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Chatham is 0.36%, which is significantly lower than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within North Chatham set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Chatham estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares North Chatham's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the highest median property tax rate in the county is found in zip code 25001 with a rate of 0.99%, while the lowest median tax rate is also in zip code 25001 at 0.36%. Understanding how these areas compare with North Chatham provides valuable insights into the varying tax landscape across Barnstable County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average North Chatham Tax Rate
0.36%
Average Barnstable County Tax Rate
0.70%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Chatham, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02650 | 0.36% | 0.36% | 0.36% | 0.36% | 0.36% |
Source: Ownwell
Property Tax Assessment Values Across North Chatham, Massachusetts
In North Chatham, Massachusetts, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Barnstable County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In North Chatham, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in North Chatham helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $4,663, located in the 02650 zip code.
Property Tax Assessment Values Across North Chatham, Massachusetts
Source: Ownwell
$390,350
$1,067,975
$1,745,600
Average North Chatham Assessed Value
$1,306,300
Average Barnstable County Assessed Value
$556,400
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across North Chatham, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02650 | $594,000 | $880,450 | $1,306,300 | $2,355,550 | $4,284,140 |
Source: Ownwell
Property Tax Bills Across North Chatham, Massachusetts
Property tax bills in North Chatham, Barnstable County, MA, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor's office and reflects the market value of the property. Homeowners in North Chatham can expect their tax bills to vary significantly, with the 25th percentile at $3,144 and the 75th percentile reaching $8,410. The 90th percentile tax bill is even higher at $15,295, indicating a wide range in property values and corresponding tax obligations. The median home price in North Chatham is $1,306,300, which is considerably higher than the national median. This high market value directly impacts the assessed value and, subsequently, the property tax bill. The highest and lowest median tax bills in the area both stand at $4,663, reflecting a specific zip code in Barnstable County. Homeowners should be aware that their property tax bills are influenced not only by the assessed value but also by the local tax rate, which can vary from year to year.
Average North Chatham Tax Bill
$4,663
Average Barnstable County Tax Bill
$4,094
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across North Chatham, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02650 | $2,120 | $3,144 | $4,663 | $8,410 | $15,295 |
Source: Ownwell